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UAE's Masdar sees renewables investment as driver of economic growth

By Humoud Al-Shayji ABU DHABI, Jan 12 (KUNA) -- Investment in renewable energy is among the key drivers of national economic growth, the United Arab Emirates' leading energy firm Masdar said on Monday, citing a diverse revenue pool as among the by-products of such a measure.
The UAE is firmly on the path towards a clean energy transition, buoyed by a national vision based on "energy security and environmental sustainability," Masdar's chief operating officer Abdulaziz Al-Obaidli told KUNA on the sidelines of Abu Dhabi Sustainability Week, an initiative put together to accelerate sustainable development efforts.
Describing the transition to clean energy a "long-term and strategic" choice, he cited the two gigawatts generating output of the UAE's Al-Dhafra solar plant as among the most notable accomplishments Abu Dhabi has seen, having the ability to cover the energy needs of some 200,000 households, added the official.
Contributing towards slashing carbon emissions by some 2.4 million tons is among the prominent attributes of the Al-Dhafra solar plant, making it an integral contributor towards national environmental sustainability plans, the official underlined.
The Abu Dhabi Sustainability Week's website describes the initiative as an effort to mobilize leaders from government, business and society to "chart the next era" of sustainable development. (end) hs.nam